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REGENCY PARTNERS DOWNGRADED...MORE EARNINGS NEWS...AND MLP INDEX CHANGES...MORE NEW HIGHS AHEAD!
Posted on 11/15/2006 06:05 AM | Link | Post Comment
Good Wednesday Morning!
We begin this morning at a new all time high and in breakout mode on the MLP Index. Scroll down for last night's earnings news. No breaking news so far this morning. We do have a downgrade this morning as Wachovia lowers Regency Partners (RGNC) to marketperform from outperform . They reported earnings yesterday which looked okay and the stock price held its own yesterday.
Sometimes these "downgrades" afford buying opportunitites and if you have been looking for a chance to get in at lower prices....using the moving average support lines as logical entry points is not a bad idea. The question here is whether the downgrade is at the beginning of a period where the stock doesn't do much or trends lower or whether this is a one day blip.
We have earnings this morning from Eagle Rock Partners (EROC) the new issue...its their first report since their IPO 2 weeks ago.
Not much else happening. LIN Energy(LINE) has a conference call this morning on yesterday's earnings which blew estimates away...they are revising guidance for next year and the call should clarify any questions. This one is going to a 2.08 annual distribution in January and at today's price is yielding 8.23 %!!! If priced to the group the stock should be at least near 28-29 imho. Btw for those of you that are interested in the weightings in the MLP index this should help. Enterprise (EPD) has the biggest weighting here at nearly 15 %..Kinder Morgan Partners has a 5 % weighting. Eagle Rock is being added to the index and Pacific Energy Partners (PPX) is coming out now that the Plains All American merger is being completed.
We begin this morning at a new all time high and in breakout mode on the MLP Index. Scroll down for last night's earnings news. No breaking news so far this morning. We do have a downgrade this morning as Wachovia lowers Regency Partners (RGNC) to marketperform from outperform . They reported earnings yesterday which looked okay and the stock price held its own yesterday.
Sometimes these "downgrades" afford buying opportunitites and if you have been looking for a chance to get in at lower prices....using the moving average support lines as logical entry points is not a bad idea. The question here is whether the downgrade is at the beginning of a period where the stock doesn't do much or trends lower or whether this is a one day blip.
We have earnings this morning from Eagle Rock Partners (EROC) the new issue...its their first report since their IPO 2 weeks ago.
Not much else happening. LIN Energy(LINE) has a conference call this morning on yesterday's earnings which blew estimates away...they are revising guidance for next year and the call should clarify any questions. This one is going to a 2.08 annual distribution in January and at today's price is yielding 8.23 %!!! If priced to the group the stock should be at least near 28-29 imho. Btw for those of you that are interested in the weightings in the MLP index this should help. Enterprise (EPD) has the biggest weighting here at nearly 15 %..Kinder Morgan Partners has a 5 % weighting. Eagle Rock is being added to the index and Pacific Energy Partners (PPX) is coming out now that the Plains All American merger is being completed.
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